Baker Hughes, a GE company and U.S. independent W&T Offshore announced a strategic partnership for a joint exploration and development programme of 14 drilling projects in the US Gulf of Mexico.
Most of the projects are operated by W&T in the Gulf of Mexico.
The project utilise a commercial model that consolidates BHGE engineering, products and services expertise in order to reduce total project costs and time to first production. The field development agreement will leverage BHGE’s portfolio to improve execution efficiency, reduce risk, and incentivise performance through shared objectives.
BHGE will provide drilling and evaluation, completions and well intervention, and pressure pumping services. It will also supply wellhead systems, subsea production systems which includes subsea trees, controls and associated subsea connection systems. Surface wellheads and production equipment, as well as the associated installation tooling and services will also be provided from the OFE product company.
“This partnership with BHGE is the type of collaborative arrangement that is enabling renewed activity in the Gulf of Mexico,” said Tracy Krohn, chairman and CEO of W&T. “By partnering closely with BHGE we are locking in service reliability and ensuring access to the broadest selection of equipment and services and advanced industry technology.”
“W&T was looking for a partner to help drive down the total cost of development. BHGE’s unique and flexible offering helps to consolidate engineering, products and services through one provider while leveraging the full technology and services leadership to meet their objectives,” said Kevin Wetherington, president of BHGE North America.